What is 1.05 percent of 118500 - step by step solution

To get the solution, we are looking for, we need to point out what we know.

1. We assume, that the number 118500 is 100% - because it's the output value of the task.
2. We assume, that x is the value we are looking for.
3. If 118500 is 100%, so we can write it down as 118500=100%.
4. We know, that x is 1.05% of the output value, so we can write it down as x=1.05%.
5. Now we have two simple equations:
1) 118500=100%
2) x=1.05%
where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:
118500/x=100%/1.05%
6. Now we just have to solve the simple equation, and we will get the solution we are looking for.

7. Solution for what is 1.05% of 118500

118500/x=100/1.05
(118500/x)*x=(100/1.05)*x       - we multiply both sides of the equation by x
118500=95.238095238095*x       - we divide both sides of the equation by (95.238095238095) to get x
118500/95.238095238095=x
1244.25=x
x=1244.25

now we have:
1.05% of 118500=1244.25